Tuesday, February 19, 2019
Congress Urged to Reinstate Alt-Fuel Tax Credit
One of the main factors enticing people to make the switch to electric vehicles is the incentives provided by the government. In mid-January, Natural Gas Vehicles for America (NGVA) called on Congress to reinstate the Alternative Fuels Tax Credit (ATFC), which provided tax relief at a rate of $0.50 on the gallon for using alternative fuels.
During an administration which has sought to cut back regulations on the fossil fuel industry, these tax credits are sorely needed in order to boost both interest and investment in EV technologies. As this credit lapsed December 31st, 2017, an extension to these clean air investment incentives would pair nicely with several car manufacturers entering the EV market in 2019. With increased affordability and variety of electric vehicles, in combination with tax incentives, we'll see great benefits for the industry in the years to come.
Read more at the NGT news site here.